For more than 15 years, the diamond industry has been telling the world about a looming shortage of gems. Instead, demand has been stubbornly underwhelming, and the miners have done a wonderful job of digging more and more stones.
【IDEX】Alrosa sells $10.5 million of rough and $4.1 million of polished at auction during recent Hong Kong show
Alrosa published the results of its special size rough diamond auction held during the recent Hong Kong International Diamond, Gem & Pearl Show. The company sold 101 stones at a total weight of 1,829 carats that generated a revenue of $10.5 million.
By the time your grandchildren buy their first diamond, most mines will have reached the end of their life cycle and most diamonds will be sourced from the second-hand market. These circumstances will make the pre-owned diamond arena the largest “mine” in the world.